Cboe BZX Exchange has submitted a rule change application to the SEC for approving Franklin Templeton's XRP-based ETF, highlighting increased investor interest.
Franklin Templeton and $1.5 Trillion Market
The filing by Franklin Templeton, an asset manager with over $1.5 trillion under management, signifies a strong step towards launching an XRP-based ETF. Their involvement marks a pivotal movement in the digital asset market.
XRP Price Rises Amid ETF News
The latest price data indicates XRP is trading at $2.20, experiencing a 3.52% increase. Analysts suggest this trend aligns with previous market movements.
Regulatory Hurdles for XRP ETF Approval
The filing follows patterns established by earlier ETF approvals like Bitcoin, but XRP faces regulatory challenges without a CME futures product. Expert Eric Balchunas emphasizes the large pool of pending approvals.
Franklin Templeton's XRP ETF application could strengthen XRP's market position but requires overcoming regulatory barriers.
